Forbes sold to Asian investors


The Forbes family is giving up control of the business magazine which bears its name, striking a deal to sell a majority stake in Forbes Media LLC to a Hong Kong investor group for more than $300 million.

The Forbes family will retain a “significant” but undisclosed minority ownership position in the company after the sale, which values the entire company at $475 million.

Steve Forbes, chairman and editor in chief, will remain with the company.